The integration of AI and IoT is an emerging trend in the market. AI-powered analytics combined with IoT devices provide real-time insights, predictive maintenance, and granular data analysis for efficient asset monitoring. For instance, in October 2023, Revnue launched an innovative mobile app, integrated with AI capabilities. The app is a pivotal addition to the company’s comprehensive SaaS platform offering a user-friendly interface for efficient asset, contract, customer, supplier, and service data management. Companies operating in the market are forming strategic partnerships to provide modern wireless powered asset tracking solutions across a broad range of IoT applications.
For instance, in April 2023, Energous Corporation, a developer of RF-based intelligent wireless power networks partnered InnoTractor, a provider of IoT-based solutions for logistics and supply chain applications to integrate wireless power solutions for real-time asset tracking across various industries adopting IoT. The partnership allowed InnoTractor to integrate and deploy Energous’ PowerBridge technology and Wiliot’s IoT Pixel tags to provide customers with a solution featuring lower costs and increased mobility.
The increasing trend of cloud-based solutions in wireless asset management signifies a shift toward centralized, accessible data storage and management. Leveraging the cloud allows seamless remote access to asset information, ensuring scalability and flexibility in operations. This trend enables real-time collaboration, data sharing, and streamlined processes across diverse locations. Cloud-based platforms also offer improved security, cost-effectiveness, and the ability to integrate with various devices, enhancing the overall efficiency and adaptability.